The Importance of a Media Savvy Staff
I’m sharing because every company wanting to create and maintain a good public image should make sure that their whole organization knows how to deal in the present day world of social networks and digital papertrails.
Why You Should Media Train Your Staff
By Karen Geier
Source: MarketWired – Blog
When you onboard new employees, it usually looks something like this: You give them a handout of company policies, sometimes you ask them to sign non-disclosure agreements, and, you train them on the expected ways to do their jobs.
Then you leave them to their own devices to determine how to communicate with the rest of the world.
This might not seem like a big deal at first, but as many corporations have discovered in our hyper-connected world, where normal people have their emails and correspondence leaked, you could be leaving your company vulnerable to exposing something you weren’t ready to.
The best solution? Media training.
Media training is a method of explaining how to deal with press and outsiders while maintaining the discretion of your company and reinforcing company points of views. Media training can help your team avoid gotcha moments and pitfalls in communicating information.
Social media has fundamentally changed the game for companies, and many have adapted to this new reality in their official channels. Major mistakes still happen, though less frequently than in years past. The problem is that odds are every single employee you have likely has some social media presence, and he or she may unwittingly disclose information or vent feelings about your company in a way that causes real problems for you.
How to Determine Who to Media Train
Start with the usual suspects: your executive team, sales team, and anyone who regularly is in the public eye or speaks to press. Then look to people in the company who fit these criteria (they don’t have to hit every point).
Do they:
- Work in customer care?
- Have regular dealings with outside vendors?
- Liaise regularly with contract workers or workers in satellite offices?
- Travel regularly?
- Have a blog or other social media presence they post regularly to?
- Attend conferences regularly or speak on the company’s behalf?
All of these people should be media trained.
What to Focus on When Media Training
Historically, media training was mostly about how to think on one’s feet when asked a direct question from media, and how to avoid being put on the spot by an interviewer. These are still great, indispensable skills, but your training will need to go further.
You will need to educate these teams on the basics of email disclosures, social media skills, and generally not leaving digital “paper trails.” You will need to train your staff on what to do if there is a Twitter storm surrounding your company and your team is targeted.
You will also need to design and train your team on when and how to hand over questions to an authorized representative. These are plausible scenarios every company faces, but that good companies plan for (remember, people might not remember an ad hoc piece of advice in a high stress situation) – make sure the company’s protocols are well documented and readily available anywhere online to staff (and also, outfit your team with hard copies of these protocols that they should keep at their desk).
There is an optional module you may want to include in your media training, and that is whether you wish your employees to not disclose ties to the company online in biographies or profile information. The answer to this will be different for every company. A news station is going to have a different approach to this than an oil company.
Once you have your approved training modules, make sure you train everyone and that they sign a document indicating they have completed the training. Keep this document in their human resources folder.
Employ a Triage Plan and Messaging Matrix
It’s always better to be prepared in the moment with tools that are easy to access and use right away. For this reason, you should have two critical documents in your training modules: a triage plan, and a messaging matrix.
The triage plan tells your staff who to call when a certain situation happens, and how to properly escalate situations in flux.
A messaging matrix gives your team the written tools they can use to answer questions immediately or if a point person is not available, or to tide over press or social media until a point person is available. Consider many diverse situations to plan against. Look to real-world examples to gird against.
Media training can seem like an expensive or time-wasteful activity, but if you can save your company from ever having to employ crisis PR, or if you can prevent a situation from getting out of hand or going viral in the mainstream media, you’ve already gotten ahead of the game. It’s important to have your team aligned on messaging, and media training is a simple way of achieving this goal and making it stick with staff.
Canada’s forecast takes hit as IMF cuts global growth outlook again
As your Investor Relations firm, it is our job to keep you posted on the latest market news
By: David Parkinson
Source : Business News Network
The International Monetary Fund has again cut its forecast for both global and Canadian economic growth, as the plunge in oil prices widens the rifts in the world economy.
The IMF’s World Economic Outlook Update (WEO), unveiled in Beijing on Tuesday morning local time, forecast global growth of 3.5 percent in 2015 – slightly higher than last year’s modest 3.3-percent expansion, but down from 3.8 per cent in the IMF’s previous outlook in October. It reduced its 2016 forecast by the same amount, to 3.7 per cent from October’s 4 per cent.
This is the third successive quarterly report in which the IMF trimmed its global growth forecast for the current year.
The international financial body cut its forecast for every major economy except one: The United States. It raised its 2015 forecast for U.S. growth to 3.6 per cent from its October forecast of 3.1 percent and up strongly from 2014’s 2.4 percent. It raised its 2016 U.S. forecast to 3.3 percent from 3.0 percent.
The IMF’s growth forecast for Canada is now 2.3 percent in 2015 and 2.1 percent in 2016, down from its previous call of 2.4 percent in both years. Canada’s 2014 growth was estimated at 2.4 percent.
“Oil exporters, for which oil receipts typically contribute to a sizable share of fiscal revenues, are experiencing larger shocks in proportion to their economies,” the IMF said.
The report said the dramatic drop in oil prices should be a net positive for the world economy. However, exporters of oil and other commodities will be slowed by the sharp price declines – including many emerging-market regions that had been relied upon for strong contributions to global growth.
“Developments since the release of the October WEO have conflicting implications for the growth forecasts. On the upside, the decline in oil prices driven by supply factors … will boost global growth over the next two years or so by lifting purchasing power and private demand in oil importers,” the report said. “However, the boost from lower oil prices is expected to be more than offset by an adjustment to lower medium-term growth in most major economies other than the United States.”
“Our forecasts reflect the increasing divergence between the United States on one hand and the euro area and Japan on the other,” Olivier Blanchard, IMF economic counsellor and director of research, said in remarks prepared for a press conference in conjunction with the report’s release. The IMF noted that this divergence is widening interest rate and currency spreads (in particular, driving up the U.S. dollar and depressing the euro and Japanese yen), further complicating the economic landscape for many countries.
“At the country level, the cross currents make for a complicated picture,” he said.
The IMF projected euro zone growth of just 1.2 percent in 2015, down from 1.4 percent in the October forecast, although up from 2014’s 0.8 percent. For 2016, the IMF forecast growth at 1.4 percent, down from 1.7 percent in the earlier projection.
The agency predicted that Japan, which slipped into recession in the 2014 third quarter, would see growth of just 0.6 percent in 2015, down from its earlier forecast of 0.8 percent. It trimmed its 2016 forecast slightly, to 0.8 percent.
The IMF also warned of slower growth in China, where the government is seeking to reduce the economy’s credit exposure and reorient toward consumer growth. The agency now sees China’s growth slowing to 6.8 percent this year (down from the previously forecast 7.1 percent) and 6.3 percent next year (down from 6.8 percent), compared with 7.4 percent in 2014.
Blanchard did allow that the net benefit of lower oil prices could prove a stronger global economic stimulant than the IMF is currently anticipating.
“This decline may turn out to be a stronger ‘shot in the arm’ than is implicit in our forecasts,” he said. “Our forecasts may turn out to have been a bit too pessimistic. I very much hope so.”
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Oil prices slip on record Iraq output
As your Investor Relations firm, it is our job to keep you posted on the latest market news
Oil came fell just under $50 per barrel this morning upon news of Iraq’s record output in December. The news is on top of the Goldman Sachs report issued last week that foreshadowed a rather bleak year for oil.
The small gains that were made on Friday vanished quickly today.The news on Iraq output is in line with OPEC’s position on maintaining their current production pace.
Due to securities violations by China’s 3 largest brokerage firms, the markets plunged with the Shanghai Composite Index falling as much as 8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} at one point.
This is evidence of structural issues within the Chinese economy as brokerage firms are lending money to enable clients to purchase securities. This coupled with the government’s expected report of slower economic growth helps explains the drop on the market.
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By Himanshu Ojha
Brent crude oil prices fell below $50 a barrel on Monday after Iraq announced record oil production and the global economic outlook darkened.
Iraqi Oil Minister Adel Abdel Mehdi said on Sunday Iraq pumped 4 million barrels per day (bpd) of oil in December, its highest ever thanks to higher output from its southern terminals and a surge in supply from the north.
Abdel Mehdi said Iraq planned to a big increase in exports from the northern city of Kirkuk and the Kurdistan region, which would increase production to 600,000 bpd from April.
Brent crude traded around $49.40 a barrel early Monday morning, down 77 cents. U.S. crude was trading down 74 cents at $47.95 a barrel.
“There’s still more supply than demand and that’s a situation that will not change in just a few weeks,” said Hans van Cleef, energy economist at ABN Amro.
Oil prices have dropped by more than half since last June as output around the world has soared while demand growth has slowed. Although the International Energy Agency (IEA) said last week a reversal in the trend was possible this year, it added that prices may fall further before rising.
Analysts said prices found some support from a drop in U.S. drilling rigs, signifying a likely fall in production in the future. But they said there was not much room for gains.
“Some positive data points helped to stabilize oil for now … Upbeat IEA comments and a falling U.S. rig count were the latest positive news. While the news was able to halt oil’s price decline, it (is) not enough to turn prices bullish,” Morgan Stanley said in a note to clients on Monday.
China, the world’s biggest energy consumer, is expected on Tuesday to report its weakest economic growth for more than two decades. Data from China’s National Bureau of Statistics showed on Sunday house prices fell for a fourth straight month.
A meeting of the European Central Bank on Thursday will likely see the launch of a government bond-buying campaign, pointing to further euro falls against the dollar as well as to downward pressure on oil prices.
“It is not hard to find evidence of increasing concerns around global economic weakness. Yield curves across the world have been flattening (longer term yields falling relative to short ones), a dynamic typically associated with expectations of weakening economic conditions,” Timera Energy said on Monday.
Source: Business News Network
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TickerTrax Insights: V.SBM 12 cents: Skin whitening, anti-aging and diabetes
In 2015 I am hunting for promising opportunities outside of resource exploration that will provide diversification with strong capital gain potential. Sirona Biochem Corp. (TSX: V.SBM, Stock Forum) has a lot in the pipeline that could have a big impact on share price in 2015. But this type of stock is very difficult to buy on good news. Case in point – July 31, 2014 Sirona announced successful synthesis of an anti-inflammatory compound for their Bloom Burton joint venture. At the time I would have viewed this as good news but not “great” news. The stock over the next three days gained 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} on 20 million shares of buying! It came back over time because of this lousy market but it shows how quickly these biotech micro cap stocks can move. When you are finished reading my report I think you will recognize the same potential I see for multiple avenues of high impact news over the next year or two. In particular are licensing deals with big pharmaceutical or cosmetic companies. These can not only produce initial payments worth several hundred million dollars, but ongoing royalties worth even more. These are the type of licensing agreements we will be speculating on (hoping for) with Sirona. The current market cap is only $15 million so there is plenty of room for growth. I tried to shorten my report length from fourteen pages but there is too much relevant information that needs to be properly digested. It is a detailed report but it will help you understand the risk/reward opportunity. Source Full Report
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Why 2015 is not the year for sheep
By Larry Berman- It was somewhat warm, yet very cold as I watched the Sunday morning Washington talk shows. Democracy and freedom are widespread and the solidarity of world leaders around the latest terrorist tragedy in France is a great uplifting thing to see. But the religious wars in the world are increasingly disturbing because it’s an enemy we can’t fight or forecast very well.
Sadly, geopolitical risks are likely to be elevated for years according to some of the best think tanks out there. Even Putin may be stressed into doing something really stupid (not that he hasn’t already) to appease the “criminal” oligarch that steals from the poverty stricken public to feed their own greed and excess all over Eastern Europe. ISIS, Al Qaeda, and others seem to be growing in strength despite all efforts to slow them down. I saw a story over the weekend where Syria is now trying to enrich uranium.
More peacefully, but market disruptive, Greece is likely to vote for an anti-EU party (Syriza) and plant the seeds for the GREXIT…and QE in any measure is not going to fix any of it. Nothing short of massive debt forgiveness will begin to fix the problem, but floating exchange rates are needed too. And if they let Greece go, Portugal and Italy are likely right behind them.
We think 2015 will be more about geopolitical risks than fundamentals and should raise volatility considerably which we got a taste of in the fourth quarter of last year.
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Harper’s Oil Dilemma
Alberta, Canada’s wealthiest province started 2014 with a booming economy and expected the same for 2015. In retrospect, that might have been the good old days as Alberta’s economic projections in light of the oil crash have dimmed significantly over the last 6 months. Upon Goldman Sachs announcing their dismal oil forecast , oil hit a 5-year low on Monday. The prospect of the proverbial golden goose dying a slow and painful death is causing ripples throughout the Canadian economy. Suncor announced today it will cut 1000 jobs due to low oil prices and slash their capital budget. Many companies such as Shell are following suit . The Canadian housing market could be affected as rising housing prices correlated to the price of oil increasing. The dreaded ‘R’word was uttered today describe Alberta’s fortunes for 2015 and even a mention of a sales tax by Alberta Premier Jim Prentice illustrates how dire the situation is. The oil collapse has the auto industry in Detroit baffled as to what consumers will want from them. The future of the Keystone pipeline is in jeopardy with President Obama saying he would veto should the bill came across his desk. An insightful article on the future of the pipeline explains the political and environmental challenges placed by Stephen Harper’s Conservatives and how it could affect the heart of the Albertan economy.
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U.S. Senate proposal may leave Canada with a Pyrrhic victory on Keystone XL
By:Paul Koring, The Globe and Mail
Canada’s Natural Resources Minster Greg Rickford was on Capitol Hill again Tuesday pitching Keystone XL, as Senate supporters of the controversial pipeline tried to round up sufficient votes to override U.S. President Barack Obama’s threatened veto of any Congressional attempt to force approval of the project to ship Alberta oil sands crude to the Texas Gulf coast. After meeting Senator Joe Manchin, a West Virginia Democrat and Keystone XL backer, Mr. Rickford said: “I thanked Senator Manchin for his outspoken support of the Keystone XL pipeline project, and Canada as the partner of choice to fulfill the U.S. increasing need for crude imports.” But Mr. Manchin’s backing comes with conditions the Canadian Conservative government and TransCanada Corp., the pipeline giant seeking permission to build the $8-billion (U.S.) project, may find tough to accept. The senator – who believes a veto-proof majority can be achieved – says he plans to back amendments proposed by some of his Democratic colleagues. They would ban the export of oil carried by Keystone XL, require that all future purchases of pipe for the project be bought from U.S. steel makers and force payments into the national oil-spill fund from which Canadian oil sands crude is currently exempt.Many Republicans oppose those amendments and none may survive into the final billNor do any of them appear in the House of Representatives Keystone XL approval bill passed last week. All 54 Republicans in the Senate back Keystone XL, but the Canadian government and other advocates of the project need 13 more votes – meaning 13 Democrats – to forge the two-thirds majority of 67 in the 100-seat Senate needed to override a presidential veto.
Achieving that seems unlikely. Currently, nine Democrats back the legislation that would wrest control of the decision from Mr. Obama, who has repeatedly delayed deciding on the project, which opponents claim will massively add to greenhouse gas emissions by spurring extraction of Alberta’s vast bitumen reserves. No final vote on the Keystone XL approval bill is expected in the Senate until at least next week. But in the first full day of debate Tuesday, the bitter and mostly partisan battle over Keystone XL was waged in terms of its geopolitical significance and whether it would hasten global warming. Giving Keystone XL the go-ahead would allow the United States to reduce imports from places such as Russia, Venezuela and Saudi Arabia, Mr. Manchin said, echoing a refrain long made by the Canadian government, which has painted other foreign suppliers as mostly unreliable and hostile to the United States. In contrast, he lauded Canada as “the most stable regime, the best ally we’ve ever had.”
Alabama Republican Senator Jeff Sessions was similarly pro-Canadian. There’s “no better place” to import oil than from “Canada, our friend and neighbor,” he said. Approving Keystone XL, which, when built, could deliver 830,000 barrels a day, would create “an additional supply from an ally of the United States that will bring down the price of oil,” he said. But opponents continued to portray Keystone XL as a project that would benefit Canadian coffers and worsen global warming. Allowing Keystone XL to proceed would send “the dirtiest oil in the world, from the tar stands in Canada to a tax-free export zone so it can be exported,” Massachusetts Democratic Senator Ed Markey said. “That oil should not come to our country, go right through it and out again.”
Source http://www.macleans.ca/politics/ottawa/stephen-harper-oils-worst-enemy/
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Conventional vs Digital : ‘The Interview’ could be a Game Changer
Written by Frehiwote Negash
The old adage ‘There is no such thing as bad publicity’ couldn’t be truer for Sony Pictures when it comes to ‘The Interview’. From the debilitating cyber-attacks on Sony to internet outages in North Korea, the tit for tat is baffling when you remember this stems from a comedy film that would be otherwise forgotten in matter of weeks. The hype surrounding the release of ‘The Interview’ reached a tipping point last week when Sony announced it was removing the film from wide release but not before major theatre chains banded together to state that they weren’t going to screen it citing security reasons (Tassi, 2014). Their decision on the matter is a curious one as they have effectively censored themselves; something that hasn’t happened since the implementation of the Hays Code in1934. The film was supposed to be released Christmas Day on 3000 screens across the U.S. The refusal of major chains to screen the film forced Sony to pursue other forms of distribution in an effort to recoup the $44 million spent on the film (CBC, 2014). Online platforms such as Google Play and YouTube offered consumers the option to rent or buy the film. ‘The Interview’ is also available via Microsoft’s Xbox and Sony’s PlayStation Video platforms. For consumers who wanted a big screen experience, 331 independent theatres across the U.S screened the film on Christmas Day (Eadiccio, 2014).
The on-going political maelstrom and initial fascination might be enough to get a significant audience to watch the film on non-traditional platforms. The proof is in the numbers as ‘The Interview’ made a $1million on Christmas alone with a limited release (CBC, 2014). This satirical comedy isn’t the next Citizen Kane but a more potent argument has emerged for seeing the movie. The relative success of release has less to do with artistic freedom and more to do with freedom of expression. Once hackers invoked the memory of September 11th, moviegoers came out in droves to see it. While the controversy brought people to the theatres that would otherwise never see the movie, it is also a testing ground for digital film distribution.
One of the issues that could plague this form of distribution is online piracy. The illegal practice is not limited to content distributed on digital platforms as films are uploaded online within hours of their release. Consider that moviegoers pay $17 a ticket plus concessions which can cost more than the price of admission for a product that isn’t nearly the same quality as what cable channels and streaming services are doing. American networks like HBO, Showcase and AMC create their own content and maintain a high level of quality. Streaming sites like Netflix are also creating their own programming and content. Not only do they have a large viewership that subscribes and pays for the service, it is affordable and offered in the comforts of your home or on your smartphone (Tassi, 2014). While Sony hasn’t yet released sales figure, the movie leads sales on YouTube and Google Play; an encouraging sign for digital distribution. For the consumer, the question boils down to what is important: the convenience of your home or the movie experience.
Works Cited
CBC.” The Interview grosses more than $1M US in limited release.” CBC. Accessed December 28, 2014, http://www.cbc.ca/news/arts/the-interview-grosses-more-than-1m-us-in-limited-release-1.2884272
Eadicicco,Lisa. ” Microsoft:: Here’s Why We Decided To Release ‘The Interview’” Businesss Insider. Accessed December 28, 2014,http://www.businessinsider.com/microsoft-release-the-interview-on-xbox-video-2014-12#ixzz3N8mUQgxy
Tassi, Paul.” What ‘The Interview’ Accidentally Taught Us About Digital Film Distribution.” Forbes. Accessed December 28, 2014, http://www.forbes.com/sites/insertcoin/2014/12/27/what-the-interview-accidentally-taught-us-about-digital-film-distribution/
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What Cheap Oil Really Means
Written by Frehiwote Negash
When Oil prices crossed the $100 per barrel threshold in 2008, there was a prevailing thought that this might be considered the new normal. Oil prices have crossed that benchmark numerous times in the last 6 years hitting $115 as early as June (Isadore, 2014). Since then, oil prices have dropped over 50 {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the last 7 months; a staggering drop for a popular commodity. With Saudi Arabia’s Petroleum Minister announcing that Opec will not cut oil production regardless of the price per barrel, the days of $100 per barrel of oil are officially over (Defterios, 2014).
Countries like Canada and Russia are net energy exporters with oil being their largest export. While sanctions might have limited Russia’s economic prospects, the fall of oil prices has done more to damage their economy as evidenced by the free fall of the ruble last week. Yesterday, the Canadian dollar hovered near its 5 year low today hitting .85 against the American dollar (Nguyen, 2014). While the performance of the American dollar is boosted by its strengthened economy, the fall of the loonie can be attributed to fluctuating price of commodities, oil being the trigger point. Other oil producing countries such as Norway also suffered as the krone also hit a 5 year low upon the Opec announcement (Nguyen, 2014). This serves to further complicate things for non- Opec countries as the surplus of oil on the market will force them to slow production substantially and cancel future project in order to stay competitive.
As oil prices drop, Canadian consumers are delighted at the prospect of paying a little over a $1.10/l at the pumps during the holiday season. While it is clear that consumers benefit directly from lower oil prices, the same cannot be said for investors, governments and their respective economies. The recent fall in oil prices has had a massive impact on world markets. It has triggered panic selling forcing governments to act swiftly and adjust to the new reality. The price of oil is a major indicator for government projections. It helps governments determine how they plan and execute annual budgets. It can determine foreign policy and the outcomes of elections. In the short term, consumers see more money in their pocketbooks. However, with the free fall in oil prices and a weaker loonie there will be by-products of this crisis that affect all Canadians by way of government policy. Consumers have to remember that the loonie is a commodity currency so as the oil goes, the loonie goes.
For Canadians heading south for the holidays, that means less bang for your buck. For Albertans, lower oil prices means less in the public coffers as Premier Jim Prentice announced yesterday that Alberta will be $7 billion short of their estimated windfall (Curry, 2014).if you live in Southern Ontario, the hope is that the lower dollar will help boost the flagging manufacturing sector. The price of oil has created ripple effects in the Canadian economy but a sustained period will cause a tidal wave that affects every Canadian.
Works Cited
Curry, Bill. “Dropping loonie, sliding oil price redraw provinces’ economic pictures” Last accessed December 24, 2014. http://www.theglobeandmail.com/news/politics/federal-budget-revisions-shake-up-provincial-finances/article22184872/
Defterios, John .”Saudi Arabia: We’ll never cut oil production.̎Last accessed December 23, 2014. http://money.cnn.com/2014/12/22/news/economy/saudi-arabia-oil-production/index.html?iid=EL
Isadore, Chris. The end of $100 a barrel oil. Last accessed December 23, 2014, http://money.cnn.com/2014/12/23/news/economy/saudi-oil-minister-100-dollar-oil/
Nguyen, Lannah. ”Loonie near 5-year low as U.S. economy surges”. Last accessed December 23, 2014. http://www.bnn.ca/News/2014/12/23/Loonie-near-5-year-low-as-US-economy-surges.asp
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The Dramatic Fall of Russia’s Ruble
For a country only a generation removed from communism, Russia has embraced capitalism whole heartedly. Today, one can see Louis Vuitton ads in Red Square, the once symbolic bastion of the Soviet Union. The marketing of consumer products was once considered anathema to the very principals of communism; they now represent the philosophical changes in Russian society in terms of the free market. However, these changes are not reflected in its foreign policy or its pseudo-democracy. The relative stability of the current government compared to the immediate post-communist era still cannot insulate Russia from the threat of an economic bloodbath lead by the declining price of oil.
Boris Yeltsen’s tenure as Russia’s first democratically elected leader was characterized by ineptitude and corruption. The collapse of the Soviet Union and along with hyperinflation exacerbated the problem making the transition from communism to capitalism an arduous one. People saw their savings wiped out as the ruble collapsed leading to wide spread poverty. The derisive term the “Wooden Ruble”, coined to describe its meagre value only furthered the lack of trust in Russian markets (Kitroeff and Weisenthal , 2014). In the 16 years since, Russia has risen to new heights under Vladimir Putin. Economic prosperity is evident in Russia and is driven in large part by the oil and gas industry which accounts for two-thirds of their exports (Matlack, 2014). The recent volatility of ruble and falling oil prices have many Russians feeling that history is repeating itself.
The dramatic fall of the Russian ruble over the course of the last two days has sent the Russian government and markets into a tailspin. The Russian economy has suffered in recent months due to geopolitical issues, economic sanctions, and the price of oil collapsing. Yesterday, the value of the ruble dropped 19 percent making it the worst single-day drop since 1998(Kitroeff and Weisenthal , 2014). Its rapid decline eerily echoes the 1998 crises which decimated the Russian economy and became an enduring part of Yelsten’s legacy. Images of people lining up at banks yesterday conjured images of the Soviet Era bread lines. In response, the Russian Central Bank announced that it would provide additional currency funds in order to stabilize the domestic market (Zmeyev, 2014).
Putin has declined to accept responsibility placing the blame on foreign governments and markets trying to undermine Russia’s interests’. The use of Cold War rhetoric adds another troubling dimension in search of stability in the world markets. The strength of Russia’s economy will determine how Putin will proceed with his foreign policy ambitions.
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